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20121231
20121231
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CNBC 8
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Search Results 0 to 7 of about 8
CNBC
Dec 31, 2012 2:00pm EST
. you're not filming this, are you? aw! camera shy. snapshot from progressive. >>> mitch mcconnell speaking on the senate floor. let's listen in. >> president said quote for now our most immediate priority is to stop taxes priority is to stop taxes going up for middle class families starting tomorrow, end quote. i agree. he suggested that action on the sequester is something we continue to work on in the coming months. so i agree. let's pass the tax relief portion now. let's take what's been agreed to and get moving. let me say this was not easy to get to. i mean, the vice president and i last spoke about -- yesterday about 12:45 this morning and then again at 6:30 this morning then multiple times during the day this morning. this has been clearly a good faith negotiation. we all want to protect taxpayers. and we can get it done now. right now. so let me be clear. we'll continue to work on finding smarter ways to cut spending, but let's not let that hold up protecting americans from the tax hike that will take place in about ten hours. ten hours from now. we can do this. we must do
CNBC
Dec 31, 2012 3:00pm EST
with mitch mcconnell on the floor saying that we are very, very close. we'll get more details from john harwood in a moment, but right now the markets are voting and they're giving thumbs up with the dow up 138 points. nasdaq up 2% right now. it's been strong all day. now at 3,020. and the s&p up 1.5%. >> look at those stocks go. president obama saying a fiscal cliff agreement is quote, in sight. mitch mcconnell moments ago saying quote, we are very, very close. >> to d.c. and john harwood. he and eamon have been monitoring all day. why are we close but not there yet? what's left, john? >> what's left is the agreement between the two parties on delaying those automatic across the board defense and domestic budget cuts which nobody wants. they deliberately set up so they wouldn't take place. democrats want to defer those for a year. republicans say we're only going to put them off to the extent you can find budget cuts that match the amount that the sequester would have been. now, the republicans are offering two or three months, 60 or 90 days and suggesting cuts. but democrats have not
CNBC
Dec 31, 2012 9:00am EST
a listen to mitch mcconnell last night talking about the pace of the negotiations here and the frustration that he's experienced going through all of this over the weekend. take a listen. >> now, i'm concerned about the lack of urgency here. like we all know we're running out of time. this is far too much at stake for political gamesmanship. we need to protect the american families and businesses from this looming tax hike. everyone agrees that that action is necessary. >> so now all eyes are focused on the senate for 11:00 this morning when they do reconvene. there were reports there was major progress overnight for something that could pass on the senate side. the question is whether it can pass on the house side under the leadership of speaker john boehner. i've talked to a couple of republicans this morning who are fairly optimistic that whatever comes out of the senate, whatever that deal is, it will pass the house this afternoon. although hard-core republican anti-tax folks are not going to vote for it. it still would likely have enough votes to pass. that's at least the mood of some
CNBC
Dec 31, 2012 4:00pm EST
curious. because here we are with mitch mcconnell and the vice president trying to work this out from a senate perspective. and the story is the house isn't going to vote for it. i'd like to back up a square on this game board. the senate hasn't voted for it yet. >> uh-huh. >> so i don't know. i think the negotiations are going on between a couple individuals. to throw this out in the full senate for a vote much less the house has a whiff of plan "b" and boehner on it. i think it may still get worked out in the band-aid form, but i don't think that's complete at this point. so i think maybe we're all going to be working tomorrow. >> i'm just getting word now that the house gop is going to caucus in an hour. they may not vote, but they'll be talking about what they're hearing coming from the senate and probably get more details at that point. it's not like we're not going to get any progress. but as i said before, rick, for something this important, would you want this to be that much of a rush job in. >> i agree with you. i totally absolutely agree with you. that it needs to be taken
CNBC
Dec 31, 2012 4:00am EST
the republican leader, mitch mcconnell, who is the key here, does he sign off on a deal. if he signs off on a deal, something will happen. does he read that and say, boy, we need to take this tax issue off the table. he is a big believer of this. give the president his tax hike on the rich now. fight him on everything else when taxes aren't part of the conversation. fight him on everything else in six weeks when the debt ceiling is hit or eight weeks, 12 weeks, whenever that fight happens, and do that. i do think that mcconnell -- that's where he wants to be. can he get there in the next 24 hours? that's what we don't know. >> tom brokaw? >> well, it seems to me that the middle class is going to have a date for the prom. everybody is talking about protecting the middle class here. so i think this deal will probably get done around the middle class tax cut. it's at what level. $400,000 or $250,000 or some other number. which is going to be critically important. a lot of people don't realize in a large urban and suburban areas of america, $250,000 doesn't make you rich. have you two kids i
CNBC
Dec 31, 2012 1:00pm EST
and senate minority leader mitch mcconnell is increase to 39.6 for income somewhere between 400 and $500,000 and probably 450,000. the estate tax would go up slightly from the level of 35% and current law scheduled to go up to 35 and would probably go up slightly to 40%. you are looking at one year extension of unemployment benefits pen you a honk do they defer across the board automatic budget cuts called sequester. as amman referred to, dekrats want at least one year for that to be turned off. initially asking for two years. republicans say, no, we will come up with cuts to offset that for 60 to 90 days. that's where things are going. the problem is you can't consider any one part of the agreement done until they are all done because there's an inner play on cap gains and dividends by the way, looking at going from 15% on both which is current policy to 20% on both. not the higher rate called for undercurrent law of 39.6% for dividends. 20% for both. this is something that both sides are going to have to consider. see if they can regard it as acceptable it their members. once we get a
CNBC
Dec 31, 2012 6:00am EST
think the chances are pretty good that if mitch mcconnell comes out, strikes a deal, blesses it, it gets 60 plus votes in the senate, which means some -- a slug of republicans are going along with democrats to vote for it, they might lose some democrats on it, i think then it would be very difficult for john boehner on the last day to keep that off the house floor. john boehner has followed what denny hastert used to impose as the majority of the majority rule. you don't bring something to the floor unless most of your members are for it. i think john boehner in this case would be willing to set that aside. he would have something else for his members to vote for, which would be more favorable to those die hard conservatives who oppose the deal, but i think he would put it on the floor and i think eld pass. >> joining us now on the set is republican congresswoman shelly moore-capito and democratic congressman greg meeks from new york. congresswoman, i think he could do that and bring it and still be fine on january 3rd. is that your view? he would be re-elected speaker. >> i think he's g
CNBC
Dec 31, 2012 12:00pm EST
of agreement as vice president biden and mitch mcconnell have been speaking for the last several hours, maybe 12, 24 hours or so. at least those two gentlemen seem to be moving the ball forward or the mark set anticipating that. what can we -- the president comes out and makes a positive comment, okay, that we either have a deal in principle. there are still a lot of variables to take into consideration. >> yes. >> the house is the wild card. >> house is the wild card in the whole thing. >> do you do anything to set yourself up for the other side? >> no. >> that's what people will be thinking as they watch this network. >> my strategy remains, stay with the quality companies. use the dips to buy them. don't try and hit bottoms but don't buy an expectation af nounsments. you know it is not a very, very broad agreement. i think the mark goes up. i don't think there is a big sell-off. but i think is rest. >> bk, are you looking at the same moving goal that i am? a move of a one and a third percent? and that's a spike. and i'm curious to know why this is happening if the news is get morgue positi
Search Results 0 to 7 of about 8